The Australian Prudential Regulation Authority (APRA) has released a letter to registrable superannuation entity (RSE) licensees of Defined Benefit funds to seek their input on the amendments to the Superannuation Guarantee (Administration) Act 1992 (SGAA), commenced in September 2020.
The Treasury Laws Amendment (Your Superannuation, Your Choice) Act 2020 (Your Superannuation, Your Choice Act), which amended the SGAA, requires APRA to conduct a review to identify any unintended consequences of these amendments on the operation of Defined Benefit schemes.
This consultation will be open for submissions until 8 September 2022.
The letter to industry is available on the APRA website at: Review of amendments to the Superannuation Guarantee (Administration) Act 1992.
